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Investments (Tables)

12 Months Ended

Dec. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Debt Securities and Other Investments, Included on Consolidated Balance Sheet and Recorded at Fair Value

As of December 31, 2022, the following debt securities and other investments were included in short-term investments and long-term investments on the Consolidated Balance Sheet and recorded at fair value:

		Amortized				Gross Unrealized								Fair
(In thousands)		Cost				Gains				Losses				Value
Corporate bonds		$	2,538			$	5			$	(81	)		$	2,462
Municipal fixed-rate bonds			185								(5	)			180
Asset-backed bonds			818				1				(24	)			795
Mortgage/Agency-backed bonds			1,853								(105	)			1,748
U.S. government bonds			3,870				3				(188	)			3,685
Foreign government bonds			407								(24	)			383
Available-for-sale debt securities held at fair value		$	9,671			$	9			$	(427	)		$	9,253

Gross Realized Gains and Losses on Sale of Debt Securities

The following table presents gross realized gains and losses related to our debt securities for the years ended December 31, 2023, 2022 and 2021:

		For the year ended December 31,
(In thousands)		2023				2022				2021
Gross realized gains on debt securities		$	9			$	17			$	241
Gross realized losses on debt securities			(355	)			(1,211	)			(159	)
Total (loss) gain recognized, net		$	(346	)		$	(1,194	)		$	82

Breakdown of Investments with Unrealized Losses

The following table presents the breakdown of debt securities and other investments with unrealized losses as of December 31, 2022:

		Continuous Unrealized Loss Position for Less than 12 Months								Continuous Unrealized Loss Position for 12 Months or Greater								Total
(In thousands)		Fair Value				Unrealized Losses				Fair Value				Unrealized Losses				Fair Value				Unrealized Losses
Corporate bonds		$	1,367			$	(39	)		$	583			$	(42	)		$	1,950			$	(81	)
Municipal fixed-rate bonds			—				—				180				(5	)			180				(5	)
Asset-backed bonds			524				(14	)			117				(10	)			641				(24	)
Mortgage/Agency-backed bonds			825				(23	)			844				(82	)			1,668				(105	)
U.S. government bonds			2,215				(106	)			1,063				(82	)			3,278				(188	)
Foreign government bonds			—				—				383				(24	)			383				(24	)
Total		$	4,931			$	(182	)		$	3,170			$	(245	)		$	8,100			$	(427	)

Realized and Unrealized Gains and Losses for Marketable Equity Securities

Realized and unrealized gains and losses for our marketable equity securities for the year ended December 31, 2023, 2022 and 2021 were as follows:

		For the year ended December 31,
(In thousands)		2023				2022				2021
Realized gains (losses) on equity securities sold		$	17			$	(1,675	)		$	(992	)
Unrealized gains (losses) on equity securities held			3,083				(8,470	)			2,671
Total gain (loss) recognized, net		$	3,100			$	(10,145	)		$	1,679

Cash Equivalents and Investments held at Fair Value

The Company’s cash equivalents and investments held at fair value are categorized into this hierarchy as follows:

		Fair Value Measurements as of December 31, 2023 Using
(In thousands)		Fair Value				Quoted Prices in Active Market for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Cash equivalents
Money market funds		$	5,302			$	5,302			$	—			$	—
Marketable equity securities
Marketable equity securities - various industries			905				905				—				—
Deferred compensation plan assets			26,838				26,838				—				—
Total		$	33,045			$	33,045			$	—			$	—

		Fair Value Measurements as of December 31, 2022 Using
(In thousands)		Fair Value				Quoted Prices in Active Market for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Cash equivalents
Money market funds		$	228			$	228			$	—			$	—
Available-for-sale debt securities
Corporate bonds			2,462				—				2,462				—
Municipal fixed-rate bonds			180				—				180				—
Asset-backed bonds			795				—				795				—
Mortgage/Agency-backed bonds			1,748				—				1,748				—
U.S. government bonds			3,685				3,685				—				—
Foreign government bonds			383								383				—
Marketable equity securities
Marketable equity securities - various industries			804				804				—				—
Deferred compensation plan assets			22,942				22,942				—				—
Total		$	33,227			$	27,659			$	5,568			$	—

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- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

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Tabular disclosure of realized and unrealized gain (loss) on investment in security.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(7)(c))
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Tabular disclosure of the proceeds from sales of available-for-sale securities and the gross realized gains and gross realized losses that have been included in earnings as a result of those sales.

+ References

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-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
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